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The Rapaport Group said Monday that it has acquired a 50 percent stake in India's leading jewelry magazine, The Art of Jewellery. Through its association with Rapaport, The magazine will be able to penetrate new markets throughout India and rapidly expand its reach, both companies said in a statement. The Art of Jewellery also serves as the organizer for the South India Jewellery Show, held annually in Bangalore. It has been the prime mover in promoting the jewelry trade through innovative and well acknowledged initiatives like Gold Shopping Festivals. In its six years of publishing, the magazine has won several awards and accolades for its contribution to the industry. The Rapaport Group said it will bring its extensive knowledge and global expertise of the diamond industry to the company's resources. […]
The venture capital and private equity investment arm of Delhi-based media company Network 18 Fincap Pvt. Ltd, Capital 18, has closed four deals, two of which are undisclosed, since its formal incorporation this January. The two disclosed deals involve investments in online learning company 24X7 Learning Solutions Pvt. Ltd ($4 million or Rs15.8 crore) and online search advertising firm Webchutney Studio Pvt. Ltd (deal size undisclosed). The investments made by Capital 18 are separate from those that the group’s Internet arm, Web 18, has been making over the last 12-18 months. “We will invest in sectors complementary to, but not conflicting with the strategies of Network 18,” says Sarbvir Singh, managing director, Capital 18. Singh said that the venture capital arm would not invest in companies that have the potential to be merged with the group’s existing properties. Gaming, animation, print media and the larger media, entertainment and technology space would be its key areas of focus for investment. The firm has plans to invest in 8-10 companies over next few years […]
Phoenix Mills, one of the leaders in the large retail-led mixed-use development segment, has acquired 60% stake in Big Apple Real Estate, the owners of the United Malls brand in Uttar Pradesh. The stake is being acquired through the swap of Phoenix stake in its Market City project in Agra to Big Apple and through an additional infusion of Rs 80 crore as capital. In return, Phoenix has got 60% in Big Apple Real Estate. Confirming the development, Phoenix Mills director Atul Ruia said, the acquisition is in line with their strategy to become the largest developer of mixed use retail-led centres in India. “Our equity partnership with Big Apple enable us to extend our presence across the nation and fortify our position as the leading retail centric mixed-use format player in the country,” Mr Ruia said. Big Apple has plans to build retail malls across north India, particularly in UP, covering cities including Lucknow, Agra, Bareilly and Varanasi. […]
Apnaloan.com, an online marketplace for personal finance, is in talks with venture capital funds Chrys Capital, Intel Capital and Sequoia to raise up to $15 million, a source close to the deal said. For Sequoia, this would be the second investment in the company, after the first tranche of $2.2 million earlier this year. Apnaloan plans to use fresh funds in technology innovation and marketing. Now re-christened ALC India from the previous Apnaloan.com India, the company seeks to provide an easier and customised means of raising loans and buying credit cards. For lenders such as State Bank of India, ICICI Bank and Standard Chartered Bank, it helps cut down transaction costs and widen the reach. The company now plans to deal in insurance products and is in advanced talks with Tata AIG and ICICI PruLife for partnership. […]
Global oil major Royal Dutch Shell will buy Bharat Petroleum Corp Ltd's (BPCL) 49 per cent stake in lubricant marketing firm Bharat Shell Ltd (BSL) for Rs 152.40 crore. BPCL is exiting the joint venture company, floated in 1993 to market Shell branded lubricants in India, as it has developed a competing product. “The Cabinet (at its meeting yesterday evening) gave its approval for the sale of 49 per cent equity stake of BPCL in BSL to Shell or its affiliate for a consideration of Rs 152.40 crore in cash,” Information and Broadcasting Minister P R Dasmunsi said on Friday. Shell currently holds 51 per cent stake in BSL. BSL incurred losses till financial year 2001-02 but after hiving off its loss-making LPG business, the company showed signs of turnaround and posted a net profit of Rs 12.12 crore in 2006-07. […]
Post-production firm Prime Focus on Thursday said it will acquire two US firms – Post Logic Studios and Frantic Films – for $43 million, a move that would broaden the global footprint of the company. Prime Focus Group is in advanced negotiations with two unlisted entities in North America and is close to reaching a final agreement to this effect, the company said in a filing to the Bombay Stock Exchange. These acquisitions would add to the global footprint of Prime Focus, which currently has six visual effects and post- production facilities across India and four facilities in London. The acquisition would also add rights to over 55,000 sq ft of real estate in Hollywood and a talent pool of 200 new staff, the company said. Besides, it would give Prime Focus Group access to the R&D division of Frantic Films, which develops and markets visual effects software solutions. […]
It could be a big showtime for entrepreneur Rohinton “Ronnie” Screwvala. The US based $63 billion entertainment giant, The Walt Disney Company Ltd, the company behind Mickey Mouse and Donald Duck cartoons, is all set to acquire management control in UTV Software Communications Ltd, the company promoted by Screwvala. Disney had acquired 14.85 per cent in UTV at Rs 200 per share in August 2006 and will acquire 11 to 15 per cent more through a private placement of new shares at around Rs 1,250 per share, industry sources told Hindustan Times. The deal, if it goes through, could pave the way for Disney to set foot in the country's exploding entertainment market through its hold over one of the foremost content producers. Walt Disney, which is expected to make a public offer to minority shareholders under regulatory rules to buy 20 per cent more stakes, plans to ramp up its operations in India that include setting up of mega theme parks and a captive production centre for its global business. The fresh funds would be used to build infrastructure to create software for the global operations. Screwvala and associates currently control 30.67 per cent in UTV and his stake is expected to come down to 26 per cent after the placement of new shares. Despite repeated attempts, the UTV chief could not be reached for his comments. Sources said the deal is expected to close in December itself. At the current market value of about Rs 1,800 crore, Screwvala and associates have stakes worth well over Rs 500 crore. […]
Sweden-based Securitas, the world's largest security organisation, has invested $17 million (about Rs 68 crore) in city-based Walsons Services Pvt Ltd to foray into the India's Rs 4,500-crore private security agency market. The 49 per cent stake buy by Securitas is a first such deal in the private security space in India. “Securitas was looking at a partner to enter India and our company emerged as the preferred associate for the Swedish firm. With Walsons' in-depth knowledge of the market and Securitas 60 year experience operating in the field, both the companies are confident of further expanding the business,” Walsons Founder and Chairman Arjun Walia said He said as per the agreement, Securitas and Walsons would operate in India as partners and would look at expanding operations pan-India both organically and inorganically. […]
Bangalore-based IT and BPO company Valuemart Info Technologies has acquired a 74% stake in Datatalk Services to broaden its outsourcing services to expanded client base. Datatalk will become a subsidiary of the company. Datatalk offers direct marketing, customer acquisition and retention, and telemarketing services to its clients such as Airtel, Club Mahindra, Deutsche Bank, Nestle, Pepsi, Tektronics, and Zee Television. Datatalk currently operates a 100 seat facility in Bangalore and plans to set up an additional 200 seats capacity in Bangalore and Hyderabad in the next six months. […]
Global group Ipsos has bought a controlling share of India's Indica Research. Indica was founded in 1994 and now employs more than 150 full-time staff at its offices in Mumbai, Delhi and Kolkata. The firm ranks among the top five survey-based research companies in India, and last year its turnover reached 146m INR (€2.9m). Ipsos has acquired 75% of the company with an option to increase its share at a later date. Outlining the reasons behind the investment, Richard Mecchi, CEO of Ipsos in the Asia Pacific region, explained: ‘It was important to reinforce our presence in this country where market research market grew by 17% in 2006.’ […]
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